United States Deputy Secretary of the Treasury

Deputy Secretary of Treasury of the United States of America
Seal of the Department of Treasury
Flag of the Deputy Secretary of Treasury
Incumbent
Sigal Mandelker
Acting
since June 26, 2017
U.S. Department of Treasury
Reports to Secretary of the Treasury
Seat Washington, D.C.
Appointer The President
with Senate advice and consent
Term length No fixed term
Formation February 16, 1981 (1981-02-16)
First holder R. T. McNamar
Salary Executive Schedule, level 2
Website www.treasury.gov

The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the secretary in his absence, sickness, or unavailability. The deputy secretary plays a primary role in the formulation and execution of Treasury policies and programs in all aspects of the department's activities.[1] In addition, the deputy secretary is the only official other than the secretary who can sign a Treasury Order, which is a document that delegates authority residing in the secretary or deputy secretary to another Treasury official, establishes Treasury policy, and establishes the reporting relationships and supervision of officials.[2] Former Deputy Secretaries include Roger Altman,[3] Lawrence Summers,[4] Stuart E. Eizenstat,[5] Kenneth W. Dam,[6] and Samuel W. Bodman.[7]

The office of deputy secretary is the successor of the "Under Secretary of the Treasury", the former chief deputy to the secretary. Today, several officials hold the title of "Under Secretary" of the Treasury. Among those who served as under secretary when it was the number-two position in the department include Dean Acheson, Henry Morgenthau, Jr., John W. Hanes II, and O. Max Gardner (1946–47).[8][9]

As of January 20, 2017, the office of the Deputy Secretary of the Treasury is currently vacant. President Donald Trump nominated James Donovan to the position on March 15, 2017, and the nomination was subsequently withdrawn on May 19, 2017.[10] As of October 2017, Sigal Mandelker is serving as the Acting Deputy Treasury Secretary.[11]

List of Deputy Secretaries of the Treasury

# Name Term Began Term Ended President(s) served under
1 R. T. McNamar 1981[12] 1985 Ronald Reagan
2 Richard G. Darman 1985[13] 1987
3 M. Peter McPherson 1987[14] 1989
4 John E. Robson 1989 1992[15] George H.W. Bush
5 Roger Altman 1993 1994 Bill Clinton
6 Frank N. Newman[16] 1994 1995
7 Lawrence Summers 1995 1999
8 Stuart E. Eizenstat 1999 2001
9 Kenneth W. Dam 2001 2003 George W. Bush
10 Samuel Bodman February 2004 January 2005
11 Robert M. Kimmitt August 16, 2005 January 20, 2009
12 Neal S. Wolin May 18, 2009 August 31, 2013 Barack Obama
13 Sarah Bloom Raskin March 19, 2014 January 20, 2017

References

  1. ↑ "U.S. Treasury - Duties & Functions of the Deputy Secretary of the Treasury". Archived from the original on September 15, 2007. Retrieved September 22, 2007.
  2. ↑ "U.S. Treasury - Orders and Directives". Retrieved September 22, 2007.
  3. ↑ "AllPolitics - Whitewater - Cast of Characters". CNN. Retrieved September 22, 2007.
  4. ↑ "History of the President's Office". Archived from the original on July 4, 2007. Retrieved September 22, 2007.
  5. ↑ "Covington & Burling LLP – Lawyers - Stuart E. Eizenstat". Archived from the original on October 27, 2006. Retrieved November 23, 2006.
  6. ↑ "University of Chicago Law School > Kenneth Dam". Retrieved September 22, 2007.
  7. ↑ "Department of Energy - Samuel W. Bodman". Archived from the original on June 11, 2008. Retrieved September 22, 2007.
  8. ↑ "The Cabinet: Undersecretary No. 2". May 7, 1934. Retrieved September 24, 2018 – via content.time.com.
  9. ↑ "Governor O. Max Gardner: the politician". Archived from the original on July 11, 2011. Retrieved November 10, 2010.
  10. ↑ "PN461 - Nomination of James Donovan for Department of the Treasury, 115th Congress (2017-2018)". www.congress.gov. May 25, 2017. Retrieved September 24, 2018.
  11. ↑ Woellert, Lorraine (October 12, 2017). "Mnuchin won't fill No. 2 Treasury Post as Brooks Opts Out of the Running". Politico. Retrieved October 12, 2017.
  12. ↑ "Ronald Reagan: Nomination of R. T. McNamar To Be Deputy Secretary of the Treasury". www.presidency.ucsb.edu. Retrieved September 24, 2018.
  13. ↑ "Ronald Reagan: Letter Accepting the Resignation of Richard G. Darman as Assistant to the President and Deputy to the Chief of Staff". www.presidency.ucsb.edu. Retrieved September 24, 2018.
  14. ↑ "BUSINESS PEOPLE; A.I.D. Head Is Expected To Get Treasury Post". Retrieved September 24, 2018.
  15. ↑ "Sunlight Foundation". Retrieved September 24, 2018.
  16. ↑ "Frank N. Newman". www.nndb.com. Retrieved September 24, 2018.
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